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Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Operating revenues:              
Contract revenue $ 94,747 $ 131,582 $ 197,980 $ 250,359 $ 476,409 $ 498,065 $ 531,001
Operating expenses:              
Flight operations 36,197 49,329 71,470 101,147 184,472 216,748 177,038
Maintenance 43,539 44,272 90,066 92,899 184,725 199,648 201,930
Aircraft rent 1,324 1,408 2,940 2,612 7,797 6,200 36,989
General and administrative 11,484 11,133 21,003 23,142 44,248 48,765 43,966
Depreciation and amortization 5,955 9,823 13,934 23,116 40,041 60,359 81,508
Asset impairment 46,173 2,659 111,838 43,043 73,709 54,343 171,824
Loss/(Gain) on sale of assets 7,706   54,397 150 682 (7,162) (4,723)
(Gain) on extinguishment of debt       (2,954) (2,954) 1,505 397
Other operating expenses (379) 1,315 381 4,159 6,555 3,510 7,471
Total operating expenses 151,999 119,939 366,029 287,164 542,229 582,411 716,003
Operating (loss) income (57,252) 11,643 (168,049) (36,805) (65,820) (84,346) (185,002)
Other (expense) income, net:              
Interest expense (5,334) (10,640) (12,398) (21,800) (38,455) (49,921) (35,289)
Interest income 24 14 41 28 68 146 139
Gain on investments, net   7,230   7,230 8,032    
Unrealized (loss)/gain on investments, net (11) (6,499) (53) (4,048) (6,145) 5,408 (13,715)
Gain on extinguishment of debt         2,954    
Gain on debt forgiveness   10,500 4,500 10,500 10,500    
Other income (expense), net 79 (516) (2,820) (359) (1,630) (148) (801)
Total other (expense) income, net (5,242) 89 (10,730) (8,449) (24,676) (44,515) (49,666)
(Loss) income before taxes (62,494) 11,732 (178,779) (45,254) (90,496) (128,861) (234,668)
Income tax (benefit)/expense (3,863) 72 (5,591) 936 519 (8,745) (51,990)
Net (loss) income and comprehensive (loss) income $ (58,631) $ 11,660 $ (173,188) $ (46,190) $ (91,015) $ (120,116) $ (182,678)
Net (loss) income per share attributable to common shareholders              
Basic $ (1.42) $ 0.28 $ (4.19) $ (1.13) $ (2.21) $ (3.04) $ (5.06)
Diluted $ (1.42) $ 0.28 $ (4.19) $ (1.13) $ (2.21) $ (3.04) $ (5.06)
Weighted-average common shares outstanding              
Basic 41,334 41,068 41,333 41,004 41,137 39,465 36,133
Diluted 41,334 41,068 41,333 41,004 41,137 39,465 36,133
Contract Revenue              
Operating revenues:              
Contract revenue $ 68,423 $ 113,820 $ 149,101 $ 214,920 $ 404,322 $ 421,298 $ 478,482
Pass-through and other revenue              
Operating revenues:              
Contract revenue $ 26,324 $ 17,762 $ 48,879 $ 35,439 $ 72,087 $ 76,767 $ 52,519